First and foremost: “When life gives you lemons make lemonade”.
Terry spent a good chunk of the start of his speech talking about Nortel the company, the culture (difficult beast to partner with), the flame out and probably most importantly the opportunity this train wreck presents to Ottawa. My take is you can spend your time looking and the train wreck and dwelling on how great it once was and how bad it is now staying stuck in the past or you can move on get on with your life and look for new opportunities. With the internet and mobile apps exploding there are plenty of opportunities. If life has dealt you a basket of lemons make lemonade.
Second key lesson learned. Work smart and provide value to your customers, timing is everything.
Terry told an interesting story about $0.23 scissors he had bought that were made in China. The North American equivalent was $1.75. Competing on price only in a global economy is just not feasible and you need to seek out timely opportunities. However, if you compete smart, deliver on time and target good opportunities you can win. Terry spent a great deal of time talking about why he does business in Canada and a large part of it is the quality of our Engineering talent ... World class. Commodities sell based on price and this is a battle most Canadian companies are unlikely to win but, knowledge is both valuable and marketable in a global economy. Compete where there is value and there is an excellent probability of success.
All in all a good event and a great turn out. Congrats to James Bowen on a very successful book launch.
- Ian Graham